(Answered) A monopolist faces a market demand curve given by py 100 y

Economics

A monopolist faces a market demand curve given by P(y) = 100 y. Its cost function is c(y) = y 2 + 20.

(a) Find its profit - maximizing output level y and the market price p(y ).

(b) Calculate its total revenue, total cost, and profit at y .

(d) Calculate the value of producer surplus (P S).

(e) What is the deadweight loss (DWL) equal to for this monopolist?

(f) What is the efficient (competitive) amount of output y e ?

(g) Provide a graph for this monopolist indicating P(y), MR, MC, y , p(y ), CS, P S, and DWL.

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